Colgate-Palmolive Company Expected to Post Q2 2017 Earnings of $0.72 Per Share (NYSE:CL)
Colgate-Palmolive Company (NYSE:CL) – Jefferies Group raised their Q2 2017 earnings estimates for shares of Colgate-Palmolive Company in a research note issued on Thursday. Jefferies Group analyst K. Grundy now expects that the company will post earnings of $0.72 per share for the quarter, up from their previous forecast of $0.70. Jefferies Group currently has a “Hold” rating and a $77.00 target price on the stock. Jefferies Group also issued estimates for Colgate-Palmolive Company’s FY2017 earnings at $2.89 EPS, FY2018 earnings at $3.07 EPS and FY2019 earnings at $3.27 EPS.
Colgate-Palmolive Company (NYSE:CL) last released its quarterly earnings results on Friday, April 28th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.80 billion. Colgate-Palmolive Company had a return on equity of 3,725.55% and a net margin of 16.31%. The firm’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS.
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A number of other equities analysts also recently weighed in on CL. Zacks Investment Research raised Colgate-Palmolive Company from a “sell” rating to a “hold” rating in a research report on Friday, March 17th. J P Morgan Chase & Co initiated coverage on Colgate-Palmolive Company in a research report on Tuesday, March 21st. They set a “neutral” rating and a $77.00 price target on the stock. Citigroup Inc. boosted their price target on Colgate-Palmolive Company from $70.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 21st. Royal Bank of Canada reissued a “hold” rating and set a $74.00 price target on shares of Colgate-Palmolive Company in a research report on Thursday, March 23rd. Finally, Vetr downgraded Colgate-Palmolive Company from a “buy” rating to a “hold” rating and set a $76.67 price target on the stock. in a research report on Wednesday, May 17th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. Colgate-Palmolive Company has a consensus rating of “Hold” and an average price target of $75.55.
Shares of Colgate-Palmolive Company (NYSE:CL) opened at 73.34 on Monday. The company has a market cap of $64.78 billion, a P/E ratio of 26.47 and a beta of 0.80. Colgate-Palmolive Company has a 1-year low of $63.43 and a 1-year high of $77.27. The stock’s 50 day moving average price is $75.25 and its 200 day moving average price is $71.52.
Several large investors have recently modified their holdings of the stock. American Beacon Advisors Inc. bought a new stake in shares of Colgate-Palmolive Company during the first quarter valued at about $102,000. Advantage Investment Management LLC bought a new stake in shares of Colgate-Palmolive Company during the fourth quarter valued at about $104,000. Proficio Capital Partners LLC boosted its stake in shares of Colgate-Palmolive Company by 16.9% in the first quarter. Proficio Capital Partners LLC now owns 1,432 shares of the company’s stock valued at $107,000 after buying an additional 207 shares during the period. Harbour Capital Advisors LLC bought a new stake in shares of Colgate-Palmolive Company during the first quarter valued at about $121,000. Finally, AlphaMark Advisors LLC boosted its stake in shares of Colgate-Palmolive Company by 452.1% in the first quarter. AlphaMark Advisors LLC now owns 1,673 shares of the company’s stock valued at $122,000 after buying an additional 1,370 shares during the period. Institutional investors and hedge funds own 73.56% of the company’s stock.
In related news, Director Richard J. Kogan sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 8th. The stock was sold at an average price of $71.92, for a total value of $575,360.00. Following the completion of the sale, the director now directly owns 73,065 shares in the company, valued at $5,254,834.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Patricia Verduin sold 3,833 shares of the business’s stock in a transaction that occurred on Monday, April 17th. The shares were sold at an average price of $73.72, for a total value of $282,568.76. Following the completion of the sale, the insider now owns 53,022 shares of the company’s stock, valued at $3,908,781.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,666 shares of company stock valued at $3,184,972. Corporate insiders own 1.02% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Tuesday, July 18th will be issued a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend is Friday, July 14th. Colgate-Palmolive Company’s dividend payout ratio is presently 57.76%.
Colgate-Palmolive Company Company Profile
Colgate-Palmolive Company (Colgate) is a consumer products company. The Company operates in two product segments: Oral, Personal and Home Care, and Pet Nutrition. The Oral, Personal and Home Care product segment is operated through five geographic segments, which include North America, Latin America, Europe, Asia Pacific and Africa/Eurasia.
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